During the financial results conference on February 3, 2015, Managing Director Yutaka Tabata of Mitsubishi Motors revealed about the new model of Triton released in Thailand on November 2014, “Since there are still old models of the Triton left in the inventory, marketing of the new model has been delayed than what was planned.”
He further explained, “The overall demand recovery in Thailand has been delayed. There are still stocks of the old model Triton left, and they are still focusing on selling the old models. Therefore, marketing of the new model is quite delayed from what was planned. It gained popularity with customers, also more potential customers are visiting the dealers than what we first anticipated. However, since there are still stocks of old model left, we couldn’t proceed with the new models yet.”
On the other hand, he said “The Triton was first launched with a W Cab specification in advance. We are expecting that sales would also gain momentum if the highly-demanded Club Cab specification will be added and if the lineup of the product were to increase.
Originally, we assessed that it would make an immediate recovery, but in reality, the demand was not quite going so well; thus, we forecasted on selling only 820,000 units in 2014. It is said that the value of agricultural products has not increased yet, so the capability of farmers to purchase new vehicles is still also low. Also, since the price of secondhand cars are decreasing, we also foresee the possibility of them waiting to buy replacements as the initial deposit (during the purchase of brand new car) might also decrease.” He pointed out about their forecast in the Thai market.
However, he said “The Thai government has started implementing great expenses for the infrastructure and those expenditures will start from the latter part of the fiscal year. The target project has already been specified, so that money will flow in by the second half of the year. If that happens, it will most likely bottom out and turn to a recovery process.”
(Translated by Claire Marie Sausora)